Question

I dont know how to answer part b, but you need part a to answer it so that's at the top

Answer 1

GIVEN:

We are told that the original price of a sofa is $500 and rthen it has been reduced by 20%, leaving the new price at $400.

The company cant sell the sofa after 3 weeks so they reduce the price to $320.

Required;

To find the percentage decrease.

Step-by-step solution;

At the point of reducing the price further, the original price has now been put at $400 and the new price has been set at $320. We take note that in terms of percentage, the original price is 100% while the new price will be represented by x (that is, yet unknown).

With this information we can set up an equation based on the ratio of the two prices as compared to the two percentages.

This means;

`\begin{gathered} Original\text{ }price=400(100\%) \\ \\ New\text{ }price=320(x\%) \end{gathered}`

Therefore;

`(400)/(320)=(100)/(x)`

Now we cross multiply;

`\begin{gathered} x=(100*320)/(400) \\ \\ x=(320)/(4) \\ \\ x=80 \end{gathered}`

The new price is now given as 80% which simply means 20% was deducted from the original price. In other words, there was a 20% price reduction.

ANSWER:

There was a 20% decrease.